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20110901
20110930
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democrat in another 40 years. the next call is from michigan. caller: good morning. guest: good morning. caller: i want to thank you for hitting the topics right on the nail. we definitely need to go after the upper income people because, as in backing the great depression, it did two things. it made the wealthy get off the money. it also made them free of jobs. without a strong middle-class, this country is never going to survive. in michigan, we have a 10% unemployment rate. it is basically because of foreign trade policies that we have agreed to. we need to start taking care of our own in the united states. getting back to what the person said about president obama taking a vacation, back here in michigan, the legislature takes two months of treaty summertime. nobody needs to be taking two months off in the summertime. i want to cut short and by mr. parker for speaking the truth. guest: i want to respond if i may. i love that advertising campaign of imported from detroit. it shows this country has muscled. the state of michigan has muscle. the american car industry is coming back. lo
. >> thank you. the chair now recognizes the gentleman from michigan. >> thank you chairman and chairwoman. the problem it faces obvious. there is too much government spending, too much federal debt and impeding our economy's ability to grow. as a result, too few private- sector jobs are being created. we know it and the american people know what. a quick look at the facts shows this committee has their work cut out. there were zero net jobs created in the month of august, roughly 40 million americans out of work, and the unemployment rate continues to hover around 9%. the total debt for fiscal year 2010 reached 93.1% of gdp and it is growing at an astronomical and unsustainable rate. by the end of this fiscal year our debt will exceed our g.d.p. and according to expert testimony before the simpson- bowles commission, this has already cost us 1 million jobs. these problems have been decades in the making. frankly, both parties have refused to enact many of the necessary and well-known solutions. simply put, washington has over- promised and under-performed. as a result, this committee will
of contributors that probably names that you're familiar with out there. host: michigan, curtis on our democrats line. caller: ok, i'm from michigan. i am a disabled veteran. i got shot up in vietnam. and i'm struggling with the housing market, too. and i'm water. i'm on the water and when they gave me this loan, bank of america took 80% and put 20 with gmac. charge me 11.5% and bank of america isharging me 6.7%. and i'm having problem problems. can't get refinanced. and until president obama or whoever does something about the housing, that's going to be a problem. people cannot afford their notes. and they won't give us a modification or help. i've [inaudible] now he said he's got to help me but i've got to give him $1,000. and i'm scared it's a fraud. i can't afford to give him the down payment. he said he can help me but i've got to give him $1,000. now why? guest: now, i don't know who it is that you're talking to. i should say it sounds like something you should look into before you spend your money. but you're certainly right that loan modification programs are a big topic of conversation
, the gentleman from michigan, mr. upton. >> thank you, mr. chairman. in 2009 solyndra was the first company to receive a d.o.e. energy loan funded with stimulus dollars. just two years after getting $535 million in taxpayer money and being touted by president obama as a model for how the government's venture capital program in green technology should work, the company has filed for bankruptcy and been raided by the f.b.i. we are starting to look at the d.o.e. loan guarantee program and solyndra's deal in february. some question the basis for this investigation. after four months of wrangling with the administration to produce relevant documents, the committee was forced to issue a subpoena to o.m.b. i think solyndra's recent bankruptcy filing and last week's raid show that the committee was more than justified in its scrutiny of the deal. pursuant to our oversight functions, we have an important responsibility to pursue answers regarding the use of taxpayers' money. our investigation raises several questions about whether the administration did everything that it could to protect taxpayer d
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